Dick's Announces Two Store Openings - Analyst Blog
30 Juli 2013 - 11:59PM
Zacks
Recently, full-line sporting goods retailer Dick's
Sporting Goods Inc. (DKS) took its store expansion plan
forward with the declaration of two new stores in Colonial Heights,
VA and Portage, MI. The celebration to mark the store openings will
commence on Aug 2 and extend over the weekend.
Located at the new Southpark Mall – 324 Southpark Circle – the
store will be the company’s 25th outlet in the state of Virginia
and 526th store across the United States. The second store located
at Portage is the company’s 21st store in Michigan and 527th in the
country. Both the store offerings will include over 40 suitable
in-store services carried out by Dick's certified PROS in Golf,
Bike, Hunting, Fishing, Team Sports and more.
Over the weekend, Dick’s Sporting will present an assortment of
giveaways to consumers including free Mystery Gift Cards on Friday
and Saturday, a free The North Face FLASHDRY T-shirt on Saturday
and a Scratch & Win card on Sunday for the first 100 people in
line.
In its last earnings release, Dick’s Sporting set forth its plans
to open 40 new namesake stores and relocate 1 of them during fiscal
2013.
In the long term, the company expects to open more than 400 stores
to meet its targeted total store count of about 1,100 in the United
States.
We believe Dick's Sporting continues to progress well with its
growth initiatives, which include expanding store base and
incorporating technological advancements to better serve its
patrons. The company leverages an extensive network of stores to
effectively penetrate into its target markets, which in turn,
enable the company to generate healthy sales and gain a competitive
edge.
Apart from expanding its store base, Dick's Sporting is focusing on
customer needs, in order to generate opportunities that will
increase sales. In order to make the shopping experience a
convenient one, the company has introduced a new mobile application
for iPhones and Android Smartphones that enable customers to locate
Dick's Sporting stores in any particular area and buy goods
directly, using the application.
We believe the company’s strategic measures of consolidating its
store base and the use of technology to provide better services
will enhance its relationship with present customers and would help
in attracting new customers and effectively promote products.
Other Stocks to Consider
Dick’s Sporting currently carries a Zacks Rank #3 (Hold). Other
stocks in the retail sector worth considering include
ITOCHU Corporation (ITOCY), Staples,
Inc. (SPLS) and Big 5 Sporting Goods
Corp. (BGFV). While ITOCHU Corporation carries a Zacks
Rank #1 (Strong Buy), Big 5 Sporting and Staples carry a Zacks Rank
#2 (Buy).
BIG 5 SPORTING (BGFV): Free Stock Analysis Report
DICKS SPRTG GDS (DKS): Free Stock Analysis Report
ITOCHU CORP (ITOCY): Get Free Report
STAPLES INC (SPLS): Free Stock Analysis Report
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